overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments … are at the zero lower bound, the analysis of money stocks become even more importantfor monetary policy. Therefore, this … money balances, income, the long term interest rate and the own rate of M3holdings. The specification appears to be robust …

investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … multipliers are also reduced by a sizeable effect on inflation, as Chinese firms participate in international production chains. …

investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … multipliers are also reduced by a sizeable effect on inflation, as Chinese firms participate in international production chains …

investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … multipliers are also reduced by a sizeable effect on inflation, as Chinese firms participate in international production chains …

money and inflation, central banks should implement exit strategies from the current policy path, as soon as the financial …This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation …. Excess liquidity is measured as the difference between the actual money stock and its fundamental value, the latter …

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by … inflation are identified. The results indicate that the equilibrium evolution of M3 is still in line with money demand. In the … inflation dynamics. While the hypothesis of weak exogeneity is rejected for real money balances and inflation, real income, real …